Dr. Mohammed Amin Adam, the Finance Minister, disclosed during a joint press briefing with the International Monetary Fund (IMF) on Saturday, April 13, that Ghana will undertake a comprehensive audit of the energy sector as part of the IMF-supported programs.
He also highlighted plans to reinforce the implementation of the cash waterfall mechanism as part of ongoing reforms.
Dr. Adam emphasized the government’s commitment to enhancing transparency in tariff setting, mentioning plans to review the Public Utilities Regulatory Commission’s (PURC) methodology to reduce discretionary practices and ensure a more transparent process.
Acknowledging Ghana’s achievements, he stressed the need for continued attention to the energy and cocoa sectors. Regarding cocoa, he pledged close monitoring of cost-cutting measures by the Ghana Cocoa Board (COCOBOD) and ongoing efforts to optimize cocoa road infrastructure projects.
Expressing confidence in the effective implementation of the IMF program, Dr. Adam affirmed the government’s dedication to sustaining growth and stability in the Ghanaian economy, underscoring the importance of stakeholder collaboration.
The IMF also announced a staff-level agreement on the review of the extended credit facility with Ghana, indicating progress in the ongoing partnership between Ghana and the IMF.
Source: Ghanaweb